Italcementi S.p.A., HeidelbergCement`s Italian subsidiary, received notice of a fine decision of the Italian Competition Authority in an antitrust investigation mainly relating to alleged market coordination in the Italian grey cement markets, including concerted price increases. The fine amounts to €84 million ($99.2 million).

The alleged infringements relate to the period from June 2011 until January 2016, when Italcementi did not belong to the HeidelbergCement Group. HeidelbergCement has precautionary informed the former controlling shareholder of Italcementi S.p.A. as the Share Purchase Agreement includes customary protection against such risks.

Italcementi will lodge an appeal against the Authority’s decision and the relevant fine, as the company believes that the Authority’s alleged charges are unfounded both in fact and in law and is firmly convinced that it has acted in full compliance with antitrust legislation.